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White Oak Healthcare Finance Backs Acquisition of Maryland SNF’s for Vita Healthcare

August 08, 2018, 07:13 AM
Filed Under: Healthcare

White Oak Healthcare Finance, LLC announced it acted as sole lender and administrative agent on the funding of a $34.8 million senior credit facility to Vita Healthcare Group, LLC (Vita).  The funds were used to finance the acquisition of two skilled nursing facilities, consisting of 295 beds in Maryland.  The financing included a $31.8 million term loan and a $3.0 million working capital line of credit.

“Vita has a proven track record of identifying underperforming skilled nursing facilities that can benefit from the oversight of a smaller, regionally focused operator,” said Ross Eldridge, Managing Director at White Oak.  They have a strong culture of raising resident satisfaction and quality of care in facilities they acquire.  We are thrilled to have partnered with them and look forward to growing with them in the future.”

Vita is a privately held company which, together with its affiliates, specializes in operating and managing skilled nursing facilities. Vita is committed to providing the highest level of care and professionalism to its residents and the surrounding communities. “We are very excited to have the opportunity to take care of those who need it and give back to the community, residents and staff. It was a pleasure working with the team at White Oak. Their speed and certainty of execution gave us tremendous confidence in them as our partners. We are confident that together we can bring these facilities to the next level to ensure the highest standard of care and well-being for the residents,” said Israel Birnbaum, Partner of Vita.

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